Income Tax Refund articles

Rationalisation of provisions relating to claim of Income tax refund

The existing provisions of section 239 of the Act provide inter alia that every claim of refund under Chapter XIX of the Act shall be made in the prescribed form and verified in the prescribed manner. In order to simplify the procedure for claim of refund, it is proposed to amend the said section so […]...

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Pre-Budget Memorandum 2019- A Small Wish List From New Finance Minister

Union Budget 2019 – New Finance Minister Smt. Nirmala Sitharaman’s first budget after the huge and unprecedented electoral win of Sh. Narendra Modi Government has the backing of a mammoth public mandate and as such is expected to be a reform oriented budget and not a populist one. However, along with the bold and reform […]...

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Posted Under: Income Tax |

What You Need To Know About Income Tax E-Refund

Many of us would have received a refund from the income tax department in the past. A tax refund or tax rebate is a refund furnished to the taxpayer when the tax liability is less than the taxes paid. Taxpayers can avail a tax refund on their income tax if the tax they owe is […]...

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Section 244A of Income Tax Act,1961- Details of Changes Since 1.4.1989

Whenever an assessee gets his refund from the department which is late then he is entitled for the interest u/s 244A of the Income Tax Act , 1961. There remains a confusion of the year and calulation of the interest for the period. Period is very important . From which date and for which period […]...

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Interest on Income Tax Refund

Many times it may happen that the taxpayer has paid excess tax as against the tax required to be paid by him. In such a case he is granted refund of the excess tax paid by him. In this part you can gain knowledge about various provisions relating to claim of refund of excess tax paid by the taxpayer....

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Section 234D- Interest on Excess Refund of Income Tax

Article discusses Interest under section 234D of Income TAx Act, 1961 on Excess refund granted to taxpayer which includes Manner of computation of interest U/s. 234D , Basic provisions related to Refund, Amount liable for interest and Adjustment under Section 234D(2). ...

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How to Get Your Pending Income Tax Refund: Tax Ombudsman

Delays in income tax refunds, even after the stipulated number of months, are faced by many tax payers. Running from pillar to post at the income tax office, having to deal with impolite income tax officials become a part of the ordeal. ...

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Claim Interest on Income Tax Refund for delay

DELAYS AREN'T DENIALS -Before getting into the actual process, it is important to know some of the reasons that may have caused the delay. If your bank account details or your PAN number is entered incorrectly in the form or you end up filing your tax in the wrong ward/circle, then the chances for delay are high.Tax authorities have espe...

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Income tax Refund Re-issue for change in Address & Bank Details

For the change in Address and all address related issues. Taxpayer has to Login to http://incometaxindiaefiling.gov.in. a. Login to the above website, where in the login id will be the PAN Number and Password is which is created when logging in for the first time. b. Now Go to ‘My Account’. In the drop down click on ‘Service Request...

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Income Tax Refund stuck – Steps to take & Reasons for Delay

Unfortunately in our country, many honest tax-payers have pending income tax refunds. Whether it's the Income Tax (I-T) department's lethargy or the growing number of tax payers, delayed refunds remain high on the list of complaints against the department. One of the challenges for any tax payer is getting a refund, because it is a length...

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